FEDERAL INCOME TAXATION OUTLINE Gross Income Gross Income Defined (§61) – except as otherwise provided‚ gross income means all income from whatever source derived‚ including (but not limited to) the following items: Compensation for services‚ including fees‚ commissions‚ fringe benefits‚ and similar items; Gross income derived from business Gains derived from dealings in property Interest Rents Royalties Dividends Alimony and separate maintenance payments Annuities Income from life
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Indirect tax Section 1 This section is about applying your knowledge of VAT and using reference material to make recommendations or decisions. Task 1.1 (a) You have the following information about the taxable supplies of 4 businesses. For each of them‚ indicate whether they need to register for VAT immediately‚ or monitor turnover and register later. Tick ONE box on EACH line. Register now Monitor and register later A A new business with an expected turnover of £6000 per
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Kong people today are taking an unbalanced diet. It is not uncommon for us to take in meals which are often full of saturated fats. In order to alleviate this problem‚ one useful way is to introduce ‘fat tax’ on foods high in saturated fat. In 2011‚ Denmark has implemented the world’s first fat food tax‚ levying a surcharge to food with more than 2.3 percent saturated fats. According to the Associated Press‚ saturated fats may lead to cardiovascular disease and cancer. In an effort to reverse this trend
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Youth Unemployment in Nigeria INTRODUCTION Nigeria is the most populous country in Africa and the eighth most populous country in the world with a population of 154‚ 729‚000 citizens. Our nominal GDP is $207. 116 billion and we have a nominal per capita income of $1‚ 4011. Nigeria also has the second largest economy in Africa. If I may ask‚ is this country not blessed? Yet‚ it is still plagued by youth unemployment which had been one of our major problems in recent years. Both government and
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Elections in Nigeria are nothing but dramatised rituals that seek to legitimate the power structure of the ruling class By NGOVE‚ PETER PEVER Being an M. Sc seminar presentation in the department of Political Science‚ Benue State University‚ Makurdi. ABSTRACT The concept of election has been defined in this work as the process by which the people choose their leaders. Nigeria’s democratic experience has been faced with the question of credibility of our electoral process and elections
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INDUSTRIAL DEVELOPMENT IN NIGERIA IN THE CONTEXT OF GLOBALIZATION By B.W. Adeoye Research Fellow Economic Development Department Nigerian Institute of Social and Economic Research ( NISER ) Ibadan. A paper submitted for presentation at the 45th Annual Conference of the Nigerian Economic Society(NES)‚ Holding in Abuja between 24th and 26th August‚ 2004. February‚ 2005. INDUSTRIAL DEVELOPMENT IN NIGERIA IN THE CONTEXT OF GLOBALIZATION
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THREE YEARS OF GSM REVOLUTION IN NIGERIA By Ernest C. Ndukwe‚ Executive Vice Chairman‚ Nigerian Communications Commission (NCC) INTRODUCTION ♦ Telecommunications is acknowledged as one of the most important infrastructures essential to the socio-economic well-being of any nation. ♦ The globalisation of world economy has further amplified the importance of telecommunications to the economy. ♦ The Telecommunication Sector is one of the fastest-growing sectors‚ and in terms of capitalization
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be considered as a resident in Australia and therefore his income should not be assessable due to the following reasons. Residency status is the main issue in the above case as this will determine Jamil’s liability in regards to Australian income tax. Statutory definition of an Australian resident in section 995-1 of 35 Act is a person who is a resident of Australia. In subsection 6(1) of the 1936 Act‚ it is indicated that the primary test for residency status of an individual is according to the
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the legal concept of gender equality is entrenched in the 1948 universal declaration of Human Rights. It was also stated again in the 1979 United Nations Convention on the elimination of all forms of discrimination against women. In a society like Nigeria‚ which is a largely patriarchal society‚ women tend to be comfortable to certain close-ended function in the society. It has also been confirmed that though men and women are supposed to be complementary partners in society ’s overall progress‚ women
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Religious Violence in Nigeria – the Causes and Solutions: an Islamic Perspective BY A. O. Omotosho Swedish Missiological Theme 2003‚ P. 15-31 Introduction M. M.C. K. Ajuluchukwu in his rejoinder to Northern Zone of the Christian Association of Nigeria’s booklet Leadership in Nigeria observes: “Ordinary Nigerian know nothing about inter-religious cleavages except when incited by their respective doctrinal leader. 1” This remark is a challenge and indictment to Nigerian religious leaders‚
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